Gifting Or Transferring Interest In A Family LLC Or Family LP In Washington State – New Proposed IRS Rules
Posted Oct 24, 2016
By Washington State Estate Planning & Probate Lawyer William O. Kessler
If and when they are adopted, new proposed IRS regulations would reduce the ability to use valuation discounts when valuing transfers of interest between family members in some family LLCs or family limited partnerships. The proposed regulations also expand the instances in which the lapse of certain voting and liquidation rights attached to an interest in a family LLC / family LP will be treated as a taxable gift or bequest. For more information about the formation of family entities, or gifting or selling interest in family entities, call one of the estate planning attorneys at Beresford Booth PLLC.
BERESFORD BOOTH PLLC has made this content available to the general public for informational purposes only. The information on this site is not intended to convey legal opinions or legal advice.